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As expected the euro moved towards the upside to reach both of our targets and exceed them by 5 pips.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points. As usual we’ll use each count’s invalidation point as confirmation of the other count.

On Friday’s session the euro moved strongly towards the downside, invalidating our main count.

And as we mentioned on the weekly analysis, technically it’s still possible to continue with our previous count with just a minor modification to account for the recent movement. However, a number of technical and sentiment indicators are beginning to turn well in favor of the triangle scenario, which also accounts very nicely for the recent movement, so it seems the time has come for us to adopt it as well.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points. As usual we’ll use each count’s invalidation point as confirmation of the other count.

Last week the euro moved towards the downside as expected and reached both of our targets — but then it took a strong nose-dive and shot right through our invalidation point as well.

Technically speaking, it’s still possible to continue with our previous count with just a minor modification to account for the recent movement. However, a number of technical and sentiment indicators are beginning to turn well in favor of the triangle scenario, which also accounts very nicely for the recent movement, so it seems the time has come for us to adopt it as well.

We’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points. As usual we’ll use each count’s invalidation point as confirmation of the other count.

As expected the euro moved towards the downside to reach our first target and come within 7 pips of reaching the second target.

Neither count has been invalidated yet, so we’re updating our counts to reflect the most recent price action and to present tighter targets and invalidation points. As usual we’ll use each count’s invalidation point as confirmation of the other count.

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